Curtiss-Wright Corporation (CW) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Curtiss-Wright Corporation (NYSE:CW) from a hold rating to a buy rating in a research note released on Thursday morning. They currently have $110.00 price objective on the aerospace company’s stock.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
Several other analysts also recently issued reports on CW. SunTrust Banks, Inc. upgraded Curtiss-Wright Corporation from a hold rating to a buy rating and boosted their price objective for the stock from $103.00 to $112.00 in a report on Monday, June 5th. BidaskClub upgraded Curtiss-Wright Corporation from a sell rating to a hold rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $107.75.
Shares of Curtiss-Wright Corporation (CW) opened at 100.98 on Thursday. Curtiss-Wright Corporation has a one year low of $82.77 and a one year high of $107.61. The stock’s 50 day moving average is $96.56 and its 200-day moving average is $93.01. The stock has a market capitalization of $4.46 billion, a P/E ratio of 22.91 and a beta of 1.26.
Curtiss-Wright Corporation (NYSE:CW) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The firm had revenue of $567.70 million for the quarter, compared to the consensus estimate of $546.73 million. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. On average, equities research analysts expect that Curtiss-Wright Corporation will post $4.55 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a $0.15 dividend. This is an increase from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.59%. Curtiss-Wright Corporation’s dividend payout ratio is currently 11.79%.
In other news, Director S Marce Fuller sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the transaction, the director now owns 14,960 shares in the company, valued at approximately $1,438,553.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of CW. Meadow Creek Investment Management LLC increased its holdings in shares of Curtiss-Wright Corporation by 7.3% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,408 shares of the aerospace company’s stock valued at $129,000 after purchasing an additional 96 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Curtiss-Wright Corporation by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 143 shares during the period. Neuburgh Advisers LLC increased its holdings in shares of Curtiss-Wright Corporation by 7.3% in the 1st quarter. Neuburgh Advisers LLC now owns 1,936 shares of the aerospace company’s stock valued at $177,000 after purchasing an additional 132 shares during the period. Harbour Capital Advisors LLC increased its holdings in shares of Curtiss-Wright Corporation by 93.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 16,520 shares of the aerospace company’s stock valued at $180,000 after purchasing an additional 7,970 shares during the period. Finally, Burney Co. acquired a new position in shares of Curtiss-Wright Corporation in the 2nd quarter valued at about $203,000. Institutional investors own 76.18% of the company’s stock.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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